JetBlue Airways (NASDAQ:JBLU) Posts Earnings Results, Beats Estimates By $0.10 EPS

JetBlue Airways (NASDAQ:JBLU) issued its quarterly earnings data on Tuesday. The transportation company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.10, Briefing.com reports. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. JetBlue Airways had a negative return on equity of 5.38% and a negative net margin of 8.79%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.34) earnings per share. JetBlue Airways updated its Q2 2024 guidance to EPS.

JetBlue Airways Stock Performance

NASDAQ JBLU traded down $0.26 during midday trading on Thursday, hitting $5.65. 6,959,755 shares of the company traded hands, compared to its average volume of 16,758,367. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.32. JetBlue Airways has a 52 week low of $3.42 and a 52 week high of $9.45. The company’s 50-day simple moving average is $6.91 and its 200-day simple moving average is $5.65.

Wall Street Analysts Forecast Growth

Several research firms have commented on JBLU. Bank of America lowered shares of JetBlue Airways from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $6.00 to $3.00 in a research note on Tuesday, January 9th. Susquehanna upped their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and raised their price objective for the stock from $4.00 to $9.00 in a research note on Tuesday, February 20th. JPMorgan Chase & Co. cut their target price on JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Evercore ISI boosted their price objective on JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.78.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.